US stocks open higher by more than 1%

US stocks opened higher today, shrugging off the global recession concerns and the ongoing US-China trade war.

Market's speculations around a near recession for the US economy mounted, especially after the US bonds yield curve inverted, which is a strong signal of a possible recession.

Former Fed chairwoman, Janet Yellen, sees that the yield curve inversion doesn't have to necessarily be a signal this time, while stating alongside with other Fed's members that the US economy is still strong.

The US economy revealed today that the housing starts fell by 4% to 1.191 million in July, while the building permits rose by 8.4% to 1.336 million.

By 06:04 GMT, Dow Jones rose by 1.2% or 330 points to reach 25,906, Nasdaq rose 1.7% (133 points) to 7,900, and S&P 500 rose by 1.5% or 42 points to 2,890.